Robinhood Cuts About 10% of Staff as CEO Says Business “Has Never Been Stronger”

Robinhood has cut about 10% of its staff, even as CEO Vlad Tenev said the company’s business “has never been stronger,” a move that comes alongside weak first-quarter trading activity. According to Cointelegraph, the layoffs were announced despite the CEO’s upbeat assessment of the firm’s overall position, highlighting a contrast between internal cost actions and softer trading conditions in Q1. The report did not specify additional details about which teams were affected or whether the reductions were tied to specific business lines, but it framed the decision as occurring in the context of weaker trading during the quarter. The company’s message, as described, emphasized strength in the broader business while acknowledging that trading performance in the first quarter was weak, suggesting that the staffing reduction and the CEO’s comments were presented together as part of the same update.